ACON Bios Investors L.P.
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
FMO’s investment in ACON Bios Investors L.P. is used for further investment into Biosidus Group. Established in 1983, Biosidus is a leading manufacturer and distributor of biosimilar medicines operating out of Argentina, with sales to more than 25 countries, primarily other emerging markets.
What is our funding objective?
FMO's investment will be used to acquire a majority position in Biosidus Group, and to support the company's growth plans in order to increase supply of low-cost, high-quality biosimilars across various therapeutic areas in emerging markets.
Why do we fund this investment?
This investment supports the deepening of local knowledge and production capacity in Argentina of modern medicines, and will increase the availability of essential medicines in various emerging markets. Biosidus offers decent jobs to more than 500 staff and is expected to employ more, in line with FMO’s ambition to contribute to job creation and economic growth.
What is the Environmental and Social categorization rationale?
This investment is categorized as an E&S B+ category investment due to its business activities, the development, manufacturing and distribution of “biologically similar” drugs (“biosimilars”). The following IFC Performance Standards are triggered: PS1: Assessment and Management of Environmental and Social Risks and Impacts PS2: Labor and Working Conditions PS3: Resource Efficiency and Pollution Prevention PS4: Community Health, Safety and Security and PS6: Biodiversity Conservation and Sustainable Management of Living Natural Resources. PS5: Land Acquisition and Involuntary Resettlement , PS7 (Indigenous Peoples) and PS8 (Cultural Heritage) are not applicable. Our investment will include active engagement and support on environmental and social aspects, including appropriate certification. Actions will be formalized in an environmental and social action plan, the implementation of which will be monitored throughout the lifecycle of this investment.
- Region
- Latin America & The Caribbean
- Country
- Argentina
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 1/13/2023
- Effective date
- 12/17/2018
- Total FMO financing
- USD 15.32 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+